HOW'S THE AUSTRALIAN ECONOMY FARING?
Australia's March quarter national accounts are released on Wednesday containing the latest economic growth or gross domestic product (GDP) result - a gauge of the health of the nation.
GDP
* GDP is derived by what the country earns, what it spends and how much it produces.
* Two consecutive quarters of negative GDP are considered a recession, something Australia hasn't suffered since 1991.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
* Economists expect GDP grew by around 0.1 per cent in the quarter, to be 1.4 per cent higher over the year - a marked slowdown from the respective 1.1 per cent and 2.5 per cent scored in the December quarter 2016.
WHY SHOULD WE CARE?
* A strong economy means better job opportunities and wages.
* An annual rate of around three per cent is seen as providing a solid base for sustained employment growth.
AMONG THE MAIN FIGURES THAT GO TOWARDS GDP:
* Retail spending grew by just 0.1 per cent in the quarter.
* Total construction work fell 0.7 per cent, residential construction fell 4.7 per cent.
* Business investment rose by a slim 0.3 per cent.
* Company profits jumped six per cent and 39.7 per cent annually.
* Business inventories (stock on shelves and in warehouses) are expected to contribute 0.4 percentage points to GDP.
* Wages and salaries rose 0.3 per cent, a 0.9 per cent increase over the year and less half the rate of inflation.
* Government spending rose 1.0 per cent.
* Net exports (exports minus imports) are expected to detract 0.7 percentage points from GDP as a result of weather disruptions to mines and ports.
